Capital Bancorp (NASDAQ:CBNK) Shares Gap Up Following Earnings Beat

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $28.28, but opened at $29.50. Capital Bancorp shares last traded at $30.29, with a volume of 13,372 shares changing hands.

The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.67 by $0.21. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. The business had revenue of $58.60 million during the quarter, compared to the consensus estimate of $57.54 million.

Capital Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be given a $0.10 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.40 annualized dividend and a yield of 1.29%. Capital Bancorp's dividend payout ratio is currently 16.13%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CBNK shares. Hovde Group decreased their price target on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Keefe, Bruyette & Woods raised their target price on shares of Capital Bancorp from $32.00 to $35.00 and gave the stock a "market perform" rating in a report on Friday, February 7th.

Insider Transactions at Capital Bancorp

In related news, Director Randall James Levitt sold 14,500 shares of Capital Bancorp stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.30, for a total transaction of $468,350.00. Following the completion of the sale, the director now owns 100,000 shares in the company, valued at $3,230,000. This trade represents a 12.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 31.59% of the company's stock.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in Capital Bancorp by 297.3% during the 3rd quarter. Barclays PLC now owns 11,918 shares of the financial services provider's stock worth $306,000 after acquiring an additional 8,918 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Capital Bancorp by 91.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,537 shares of the financial services provider's stock valued at $585,000 after buying an additional 9,798 shares during the period. Wedge Capital Management L L P NC raised its stake in Capital Bancorp by 31.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider's stock worth $2,679,000 after buying an additional 22,381 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Capital Bancorp by 68.0% during the third quarter. JPMorgan Chase & Co. now owns 19,458 shares of the financial services provider's stock worth $500,000 after buying an additional 7,879 shares during the period. Finally, Vanguard Group Inc. boosted its position in Capital Bancorp by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock valued at $15,912,000 after acquiring an additional 70,420 shares in the last quarter. Hedge funds and other institutional investors own 56.14% of the company's stock.

Capital Bancorp Price Performance

The firm has a market capitalization of $516.28 million, a PE ratio of 14.52 and a beta of 0.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a fifty day moving average price of $28.32 and a 200-day moving average price of $28.60.

About Capital Bancorp

Capital Bancorp, Inc operates as the bank holding company for Capital Bank, N.A. that provides various banking products and services to businesses, not-for-profit associations, and entrepreneurs in Maryland, Virginia, and the District of Columbia. It operates through Commercial Banking, Capital Bank Home Loans, and OpenSky segments.